China's public offering fund volume hits 25.08 trln yuan

Assets under the management of China's public offering funds reached 25.08 trillion yuan (about 3.78 trillion U.S. dollars) by the end of March, the latest data from the Asset Management Association of China showed.

The volume went down 4.78 percent from that at the end of February, according to the association, an industry body supervised by China's securities regulator.

The number of public offering funds increased from the end of February to 9,669, including 1,208 closed-ended funds and 8,461 open-ended funds.

China had a total of 138 asset management companies by the end of March, including 45 foreign-invested companies and 93 domestic companies, the data showed.